TagTax Levy(14)

Port of Seattle Resolution No. 3848, adopted April 28, 2026, approves the Port's full participation in the City of Bellevue's tax increment area for the Grand Connection Crossing project. The resolution authorizes the use of property tax increments to fund transportation-related public improvements connected to Interstate 405, aimed at linking Bellevue's downtown core to a regional multimodal network. The Port Commission cited expected economic benefits, reduced greenhouse gas emissions, and the project's connection to the Eastrail corridor as key reasons for its support.

This June 2023 candidates briefing from Port of Seattle Executive Director Steve Metruck outlines how the Port manages its operations across four business lines — Aviation, Maritime, Economic Development, and Corporate — guided by interwoven priorities including equity, sustainability, safety, fiscal responsibility, and cybersecurity. It also breaks down the Port's $2.0 billion in funding sources, showing that operating revenues (45.2%) and bond proceeds (35.0%) make up the bulk of funds, while the property tax levy accounts for just 4.1%. The document does not directly address Sea-Tac Airport noise policy.

The Port of Seattle funds its operations primarily through fees, bond proceeds, and operating revenue, with King County property taxes accounting for just 1.2% of all property taxes collected and roughly $78 per year for the median homeowner. The Port's tax levy has historically been directed away from Seattle-Tacoma International Airport itself, instead funding noise mitigation improvements at Highline School District schools near the airport. In 2023, the Port planned to invest $726.8 million in capital projects and $19.1 million across 18 community programs, while managing operating expenses of $573.5 million.

The City of SeaTac applied for $1,105,000 in King County Conservation Futures Tax Levy funds in 2022 to purchase the final three acres of surplus Washington State Department of Transportation land adjacent to Des Moines Creek Park, bringing the total acquired acreage to eight acres. The project aims to preserve forested upland habitat along a salmon-bearing stream, improve public park access from the west side via 18th Avenue South, and support trail connectivity including the Lake to Sound Trail. This was the third phase of a multi-year acquisition effort, following prior CFT awards of $1.1 million in 2019 and $500,000 in 2020.

The Port of Seattle Commission approved Resolution No. 3755 on December 11, 2018, authorizing a property tax levy of $74,160,000 for the 2019 calendar year. This represents a 3.0 percent increase of $2,160,000 from the 2018 levy of $72,000,000, at a rate of approximately $0.1232 per thousand of assessed value. Excluding new construction and refunds, the effective increase for tax filing purposes was $419,783, or 0.583 percent.

In December 2018, the Port of Seattle Commission voted to increase its annual property tax levy by 3 percent, raising it from $72,000,000 to $74,160,000 for the 2019 fiscal year, a difference of $2,160,000. The increase was required to be formally documented under Washington State law (RCW 84.55.120) through a separate resolution specifying both the dollar amount and percentage change. The Commission had previously approved the levy increase as part of its broader 2019 budget adoption in November 2018.